North Park Shopping Center Sells for $15.25M

03Apr

The North Park Shopping Center has sold for $15,250,000 ($283/SF). The property, located at 1700 Park Avenue, sold fully occupied by nine NNN tenants including McDonald’s, People’s United Bank, and Deal$. The center is anchored by a Save-A-Lot Supermarket. Cushman and Wakefield represented the seller.

The property, set on 5.04 acres of land at the corner of Park Avenue and North Avenue (Route 1), has recently undergone significant renovations. The renovations included a redevelopment of the main building, the completion of a McDonald’s, and a renovation of the People’s United Bank building. The site now contains approximately 53,916 square feet of space.